Andrew Stettner, Mitchell Hartmann, Feli discussed on Marketplace

Automatic TRANSCRIPT

Today, the 20th of July. Good as always to have you along everybody. We begin this week at the end of July in a year and none of us going to forget. By pointing out the enduring reality of this economy. 32 a half 1,000,000 Americans aren't working. They're trying to get by on expanded federal unemployment benefits expanded. Who condemn gig workers, self employed people who can't go to work because school is closed or because somebody in their household is sick. They all get him. Those benefits are also expanded in how much people khun get. That's the extra $600 a week you've been hearing Oh, so much about here and elsewhere. You've also been hearing. I'm sure that the last of those checks go out in the South by Southwest Festival and everyone theater folks, waiters, bartenders, Carson Lost every job that we had before the pandemic, he'd have been out of luck. Freelance workers aren't typically eligible for jobless benefits, but Washington made them eligible and added $600. Of 200 a week like that that point then I'm probably still paying my rent. But I may have to talk to my bank about Can I defer my car loan? OK, I can still survive. But now I'm going to be figuring out how to prioritize which bills to pay. All over the country. People in states with comparatively low jobless benefits, like Texas will face a 50 to 75% pay cut at a time when getting a new job isn't necessarily easy or safe, says Andrew Stettner at the Century Foundation. And that means people worried about losing their housing. Having to move in with relatives. You're not really be able to get by on unemployment benefits, Stettner says Losing the federal supplement will suck $25 billion a week out of the economy. Money People spend right away on essentials rent food transportation. The money is also keeping some small businesses alive like Anna's Assemblies Bakery in Kansas City, Missouri, where she has cooked server and business manager When the state shut down, she got on pandemic unemployment. It's gone towards shop expenses. I mean, I still have to pay rent, even when I'm closed and utilities and all that since I haven't had any revenue really. When state re opened, she was no longer eligible for unemployment. So she reopened. Feli masked takeout only and and Monday. I woke up with flu symptoms and went to the doctor and I Presumptive positive She's quarantining now, and her shop is closed. If she doesn't start getting unemployment payments soon, she's not sure she'll be able to reopen. I'm Mitchell Hartmann for marketplace Exactly How much spending power that extra 600 bucks gets? It varies. Ah, whole lot. Of course, depending on where you are our colleagues at the A. P. M research labs in ST Paul have built an interactive map That'll give you some sense of it. You can check that out at marketplace, not ord. Should say here. By the way that there are talks set on a new economic package tomorrow up on Capitol Hill, the GOP wants to hold it to a trillion Democrats in the House already passed a package at 3.5 trillion. Those obviously are the starting points. Stop me if you've heard this one before. But traders on Wall Street today took hope in some promising vaccine news. Never mind all that actual economic uncertainty. We will have the details when we do the numbers. You know what we haven't seen in a good long while. A big energy merger is what Which makes sense. Of course, These are dark days in oil and gas. So it was with some surprise, we learned Chevron is going to buy an independent oil and gas producer called.

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